Owens & Minor (NYSE:OMI) Shares Gap Up on Strong Earnings

Owens & Minor, Inc. (NYSE:OMI) shares gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $6.89, but opened at $7.74. Owens & Minor shares last traded at $8.70, with a volume of 1,150,280 shares traded.

The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 EPS.

Analysts Set New Price Targets

A number of research firms have issued reports on OMI. Robert W. Baird decreased their price objective on shares of Owens & Minor from $14.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday. UBS Group reduced their price target on Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Barclays dropped their price objective on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Finally, Citigroup reduced their target price on Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Owens & Minor presently has an average rating of “Hold” and a consensus target price of $14.92.

Institutional Trading of Owens & Minor

Several large investors have recently bought and sold shares of OMI. Inspire Advisors LLC lifted its stake in shares of Owens & Minor by 11.2% in the 4th quarter. Inspire Advisors LLC now owns 15,350 shares of the company’s stock valued at $201,000 after purchasing an additional 1,548 shares during the period. Blue Trust Inc. grew its position in shares of Owens & Minor by 57.4% in the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock worth $57,000 after buying an additional 1,600 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Owens & Minor by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,930 shares of the company’s stock worth $561,000 after acquiring an additional 1,662 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Owens & Minor by 758.3% during the fourth quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock worth $27,000 after acquiring an additional 1,820 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Owens & Minor by 0.9% in the 4th quarter. Legal & General Group Plc now owns 212,061 shares of the company’s stock worth $2,772,000 after purchasing an additional 1,991 shares in the last quarter. 98.04% of the stock is owned by institutional investors.

Owens & Minor Price Performance

The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. The firm has a 50 day moving average of $11.57 and a two-hundred day moving average of $13.30. The company has a market cap of $720.89 million, a PE ratio of -14.10, a P/E/G ratio of 0.20 and a beta of 0.48.

About Owens & Minor

Owens & Minor, Inc is a healthcare solutions company, which engages in the product manufacturing and delivery, home health supply, and perioperative services to support care through the hospital and into the home. It operates through the Products and Healthcare Services, and Patient Direct segments.